Wilmington Savings Fund Society FSB Makes New Investment in Royal Bank of Canada (NYSE:RY)

Wilmington Savings Fund Society FSB acquired a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,340 shares of the financial services provider’s stock, valued at approximately $167,000.

A number of other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Royal Bank of Canada in the 3rd quarter valued at approximately $25,000. Dunhill Financial LLC bought a new position in Royal Bank of Canada during the third quarter valued at about $25,000. Larson Financial Group LLC bought a new position in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of Royal Bank of Canada in the second quarter worth $27,000. Finally, Grove Bank & Trust acquired a new position in Royal Bank of Canada during the 3rd quarter worth $28,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 3.1 %

RY opened at $119.84 on Thursday. Royal Bank of Canada has a 1-year low of $93.97 and a 1-year high of $128.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $124.10 and a two-hundred day moving average price of $117.14. The stock has a market capitalization of $169.41 billion, a PE ratio of 14.51, a PEG ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a dividend of $1.0522 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a yield of 3.51%. Royal Bank of Canada’s dividend payout ratio is currently 52.91%.

Wall Street Analyst Weigh In

RY has been the subject of a number of research analyst reports. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. BMO Capital Markets cut their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Finally, Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.